Report cites falling costs, PTC extension as drivers in wind-power growth

08/22/2013 | ScientificAmerican.com

Renewable energy made up 49% of new U.S. capacity in 2012, and it is expected to keep growing this year as equipment costs continue to drop, according to a report from Ernst & Young. Although differences in state policies may hinder growth, declining costs and technological innovations are allowing the industry to grow even in states whose policies do not encourage utility-scale projects, the report showed. The adjustments to the eligibility requirements of the wind-energy Production Tax Credit and the Investment Tax Credit are also expected to drive growth, said Mike Bernier, the report's co-author.

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